Real Estate
August La Plata County Real Estate Statistics
This week we have the latest La Plata County residential real estate numbers for the month of August. With 113 total sales, it was a slightly lower month than July, but as we noted last month, July was the strongest month thus far of 2019, so we would expect August to slow a bit. Year to date, we are at a total of 746 sales. Last year at this time we were at a total of 779 total sales. This continues the trend we have seen for much of...
The Short Shoulder Season
Last week we mentioned that many of our local schools are back in session, and you may have noticed downtown Durango is a bit quieter now. This is typical for our area—the end of summer and beginning of fall is often considered a “shoulder” season for La Plata County real estate. For the next few weeks (generally until about mid-September), we may see the market slow a bit. Many people are adjusting to school back in session and...
End of Summer Home Maintenance
School started for many of our local students this week, and with the start of school comes schedules and a change of weather. As homeowners, it’s also time to consider end-of-summer tasks to prepare your home for fall. While the shift from fall to summer in Durango is not as extreme as the shift to winter, there are still several items that should be done to stay on top of home maintenance. Outdoor furniture and appliances: Now is a...
Colorado Association of Realtors Stats – July 2019 – La Plata County
This week, we have the latest real estate numbers for La Plata County for the month of July. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
The Wells Group Client Appreciation Event—Saturday!
This Saturday, August 17, is our Wells Group Client Appreciation event, and it’s one you won’t want to miss. We will be showing Angry Birds 2 and The Art of Racing in the Rain. Shows start at 8:30am, and doors open at 8am. Each person who brings school supplies for Durango School District 9R will even receive a $5 voucher for concessions! We are thankful for all of our clients who make our business possible. We hope you have a chance...
La Plata County Residential Transactions for July
We have the latest La Plata County Residential Real Estate numbers for our blog this week, and it was an interesting month! With 132 total sales, this is the highest number of sales we have had for any month thus far in 2019. Also, this July is higher than any July since prior to 2011! Year to date, we are at 633 total sales compared to 649 total sales last year at this time. While July was a strong month, we still haven’t exceeded...
Real Estate In The News
For our communication this week, we wanted to share some real estate news making headlines. On Wednesday, The US Federal Reserve announced that it would cut interest rates for the first time since the Great Recession in 2008. While the federal interest rate doesn’t go hand in hand with mortgage rates, they oftentimes follow. “Lawrence Yun, the chief economist at the National Association of Realtors also believes the rate cut will have...
Market Changes
As we have looked at La Plata County real estate transactions the last couple of weeks, we have noted the total number of transactions has decreased. As we have mentioned throughout the course of the year, the market is slightly slower than last year, which means we are seeing a change in the market. When the real estate market changes, it is our job to guide our clients in terms of strategy and planning to ensure optimum results....
June Colorado Association of Realtors Numbers
This week, we have the latest real estate numbers for La Plata County for the month of June. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
June La Plata County Real Estate Transactions
This week we have the latest residential real estate transactions for the month of June. With 105 total transactions, we are slightly below the total number of May transactions for this year. This number is also a bit behind the total number of transactions we have seen in recent previous years during the month of June. Year to date, we are at 501 total transactions. Last year at this time there were 528 total transactions. While we...
Should You Work With A Real Estate Agent?
One of the questions many people ask is whether they should bypass working with a real estate agent when they sell their home. There are several key reasons to utilize a real estate broker, and it helps to understand the roles and responsibilities of a broker in the process. When a client chooses to work with a real estate broker, s/he enters into a contractual agreement with the broker. According to the Colorado Association of...
Homeownership and The American Dream
As we close the month of June, we would be remiss not to focus on real estate and its impact on our country. June is National Homeownership Month. According to the White House, “During National Homeownership Month, we acknowledge the benefits of sustainable homeownership. Homeownership continues to be an important option for many Americans to invest in their communities, build wealth, and achieve the American Dream” The National...
Durango market compared to other Colorado mountain towns…
Stats released at the Durango Area Association of Realtors quarterly meeting last week indicate the BIG winter of 2018-19 had an impact on mountain communities real estate markets. Unless homeowners absolutely had to buy or sell, they were preoccupied keeping up with the snow or enjoying the snow, not listing their home and house-hunting. In La Plata County, we are expecting a strong summer this year after the 416Fire last summer put...
The Impact of the Mortgage Rate
If you’re in the market to buy a home, are you aware of the impact of mortgage interest rates and their role in a home purchase? They have a large impact on the value of home you’re able to afford. In the last several years, we’ve seen historically low mortgage rates. While they have fluctuated, they still hover near all-time lows. Recently, we saw a steady increase as the Fed’s interest rates increased, and experts projected that...
WATTS UP: Lightning Season & Safety
Nothing more than lightning plays havoc with the power grid. LPEA explains about the safety measures they take to avoid power outages and to protect workers, users.
May La Plata County CAR Numbers
This week, we have the latest real estate numbers for La Plata County for the month of May. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
May La Plata County Residential Real Estate Numbers
This week we have the latest La Plata County residential real estate transactions for the month of May. With 111 total sales, it was an increase from the month of April, and the highest total number of sales in 2019. It was slightly lower than the number of transactions from the last couple of years in May, although comparable to several of the previous years. Year to date, we are at 396 total sales. Last year at this time the total...
Senior Property Tax Exemption
It’s the time of the year many are considering property taxes. One of the nuances of the state of Colorado is the senior property tax exemption, which is available for senior citizens and the surviving spouses of senior citizens. If you qualify, 50 percent of the first $200,000 in actual value of your primary residential property is exempted. This is a great benefit and one that can help senior citizens. Below are the basic...
How Are Property Taxes Determined?
It’s the time of year many of our clients inquire about property taxes and how they are figured. While this seems like a complicated formula, it’s fairly simple once you understand a few of the basics. In the state of Colorado, we have what is called the Gallagher Amendment, which basically divides the state’s total property taxes between residential and commercial properties. It states that 45% of the property taxes must be collected...
La Plata County CAR Numbers
This week, we have the latest real estate numbers for La Plata County for the month of April. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
Featured Real Estate
Jim Wotkyns – Real Estate Blog
- Durango market compared to other Colorado mountain towns… June 24, 2019
- Big adventure in Durango – the ANIMAS RIVER is running high June 12, 2019
- PROPERTY TAX EXEMPTION for Senior Citizens and Disabled Veterans June 11, 2019
- Durango’s newest restaurants May 28, 2019
- D&SNG Railroad is rolling from Durango to Silverton! May 10, 2019